CEI Today: Fiscal Cliff alternatives, renewable fuel standards, and green chemistry
FISCAL CLIFF - WAYNE CREWS
Proposals for a so-called infrastructure bank have been around for years. Republicans are often seduced by such calls for creatively packaged government spending as well as government research and development generally. One must constantly defend free enterprise from its advocates in this respect.
But get ready: Now, President Obama’s fiscal cliff proposals include the cronyism-susceptible infrastructure bank idea.
RENEWABLE FUEL STANDARD - MARLO LEWIS
A new study conducted by Price Waterhouse Cooper (PwC) for the National Council of Chain Restaurants (NCCR) estimates the impact of the federal Renewable Fuel Standard (RFS) on the chain restaurant industry.
Here are the results. If the RFS in 2015 increases annual ethanol consumption by 6 billion gallons (“Scenario I”), quick service restaurants are projected to spend an additional $2.5 billion (10% of major food commodity spending) and full service restaurants an additional $691 million (8.9%). Costs at a typical restaurant increase from $18,190 in quick service restaurants and $17,195 in full service restaurants.
GREEN CHEMISTRY - ANGELA LOGOMASINI
Washington’s state bureaucrats are soliciting proposals from “public and private sector firms to help create a technically competent and vibrant Green Chemistry Center to help transition towards a greener and more sustainable economy in Washington State.” But what exactly is green chemistry, and is it worth spending $550 million to advance it?